According to the Australian, another investment bank has tipped the Reserve Bank will cut interest rates next month. JPMorgan today forecast the central bank will lower rates due to the "material" deterioration in financial markets since the last board meeting.
JPMorgan, which had expected the RBA to hold rates steady next month, today said the debt turmoil in Europe, tight fiscal policy from Australia's government and a strong Australian dollar have changed its mind. The bank's economists expect the RBA to cut rates by 25 basis points to 4.25 per cent next month, inline with forecasts by Goldman Sachs and UBS.The US investment bank also said it expects two more 25 basis point rate cuts in the first quarter of calendar 2012.
Wednesday, November 30, 2011
Three Auctions in One Day
On 10 December, Ray White Beecroft is auctioning 16 Hawkridge Place Dural at 11am, then 56 Boronia Avenue Cheltenham at 1pm, and 68 Cheltenham Rd Cheltenham at 2pm.
Tuesday, November 22, 2011
Further Interest Rate Cuts in the Wings?
On the back of fresh news that Italy has now become the weakest link in the Eurozone debt crisis, stockmarkets around the world were pummelled again last week as about $30 billion was wiped off the value of Australian companies.
Although bad news for many equity investors, it’s good news for the property market with an increased probability that rates will again be cut. This could be as early as next month when the Reserve Bank (RBA) is next due to meet.
The latest Westpac-Melbourne Institute consumer confidence survey conducted after the RBA’s rate cut last week recorded a bounce of 6%, the first time the index has been positive since June. ICAP economist Adam Carr told the Sydney Morning Herald that while home lending is not booming, the fact that it is recovering at a rapid pace despite global turmoil is testament to how resilient the market is.
Although bad news for many equity investors, it’s good news for the property market with an increased probability that rates will again be cut. This could be as early as next month when the Reserve Bank (RBA) is next due to meet.
The latest Westpac-Melbourne Institute consumer confidence survey conducted after the RBA’s rate cut last week recorded a bounce of 6%, the first time the index has been positive since June. ICAP economist Adam Carr told the Sydney Morning Herald that while home lending is not booming, the fact that it is recovering at a rapid pace despite global turmoil is testament to how resilient the market is.
Thursday, November 17, 2011
Record Empty Rooms in Australian Homes
A survey by the Bureau of Statistics finds there are more empty bedrooms in Australian houses than ever before. Average number of bedrooms per house has gone up from 2.8 to 3.2 over the last fifteen years, while average people per house has gone down from 2.7 to 2.5.
The number of people living in private houses has risen by 23 percent, while the number of houses has risen 28 percent.
The Hornsby Shire Housing Strategy will require the units to be built over the Beecroft Shopping Centre to be a mix of 1, 2 and 3 bedroom units, with not less than 10% of each type.
The number of people living in private houses has risen by 23 percent, while the number of houses has risen 28 percent.
The Hornsby Shire Housing Strategy will require the units to be built over the Beecroft Shopping Centre to be a mix of 1, 2 and 3 bedroom units, with not less than 10% of each type.
Wednesday, November 16, 2011
Solar Panels on Rental Properties
Ray White Beecroft has some information about recovery of electricity costs when a landlord installs a solar panel system, typically costing $30K, on a property to take advantage of NSW government rebates, and then decides to rent it out. Contact Peter Hewitt the Business Development Manager with any queries. Email peter.hewitt@raywhite.com.
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